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Unadjusted Trial Balance Rose Temple, Piano teacher December 3 1 , 2 0 2 3 Debit Credit Cash $ 1 0 , 7 7 6

Unadjusted Trial Balance
Rose Temple, Piano teacher
December 31,2023
Debit Credit
Cash $10,776.62
Accounts Recievable 690.00
Inventory 182.00
Office supplies 949.95
Digital piano 5,820.00
Owner's Drawings 25,172.00
Advertising expense 2,259.50
Repairs expense 523.06
Accounts payable $538.41
Unearned revenue 5,208.00
Sales revenue 1,495.00
Owner's equity 5,050.00
Prepaid rent 3,600.00
Computer Equipment 1,800.00
Acc. Depreciatiopn computer 50.00
Interest payable -
Bank loan payable 4,700.00
Lesson revenue 43,500.00
COGS 806.00
Accounting expense 2,200.00
Bank charges expense 121.28
Interest expense 141.00
Rent expense 5,500.00
$60,541.41 $60,541.41
PART 5
Note to students: Ensure that you make all your corrections to your Part 4 work
before starting Part 5. You will be using the same Excel worksheets for Part 5
as you used for Part 4. That is, you will just continue with the same general
journal and same general ledger.
On January 2,2024, you receive the following email from your supervisor:
Hi [Student Name],
Based on discussions I had with Rose, the following information is available
to you. Please record the adjusting journal entries using this information.
(1) December 31: As at December 31, the following students had received
lessons that they have not yet paid for:
Student Amount owing
Mr. Johnson $54.00
Mr.Saunders 27.00
Ms. McVey 54.00
(2) Rose has indicated the she had office supplies costing $00.00 on hand
at December 31 base on her count of the supplies.
(3)[Make the adjusting entry for prepaid rent.]
(4) The 2023 depreciation expense on property, plant, and equipment has
been correctly calculated (by your supervisor) at the following amounts
Computer equipment $597
Pianos 306
(5) All of the unearned lesson revenue has been earned by December 31.
(6)[Accrue $000 for bookkeeping/accounting fees for December.]
(7)[Accrue interest expense on the bank loan for December. The
calculation is:
Dec.1 loan balance X 8.0%/12
NOTE: Dec. 1 loan balance is AFTER the December 1 loan payment
(8) Once you have journalized the above adjusting entries, you must prepare the
December 31 bank reconciliation. You will need the 2 files that are
attached to this email (attachments are below]
Sincerely,
[Professor Name]
Attachment #1
The completed November 30 bank reconciliation
Rose Temple Piano Teacher
Bank Reconciliation
November 30,2023
Balance per bank statement...................... $13,266.58
Less: Outstanding cheques:
Repairs Exp. #215.......... $59.61
Advertising Exp #216..........108.25167.86
Balance per general ledger Cash acct..... $13,098.72
Attachment #2
The Bank Statement for December, 2023
CIBC
Statement of Current Account for Rose Temple Piano Teacher
For Month of December 2023
Date Item Debit Credit Balance
Nov30 Balance 13,266.58
Dec1 Auto 229.3313,037.25
Dec5 Dep 92.0013,129.25
Dec6 Ch 2174,320.008,809.25
Dec6 Dep 4,644.0013,453.25
Dec13 Ch 21557.6113,395.64
Dec20 WD 2,500.0010,895.64
Dec27 Ch 219232.1010,663.54
Dec31 SC 14.5010,649.04
Part 5 instructions continued:
(9) Next, record the last adjusting entry, resulting from your bank reconciliation.
(10) Finally, post your adjusting entries to the general ledger and prepare
the adjusted trial balance at December 31,2023.

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